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Bob Kennett who has moved into the CEO position talks through his vision and strategy for the company going forward in an audio interview - very interesting to here from him personally. http://www.brrmedia.co.uk/event/107401/bob-kennett-chief-executive-officer
CFU still need to fix the big furnaces, they have had all of November and part of December, 5 weeks to finish the job but not a word on progress yet: "During September and October we will use the large furnace to make stacks to meet forecast sales. We will then complete the modification of the furnace, to allow a combined production capacity of approximately 32 stacks per week (or 1,500 stacks per year)." Still no sales since the fund raising so not looking good, as CFU will need more cash before the middle of next year. Cash at end of Sept was £8.7m, cash burn for the Sept quarter was £2.9m, so enough cash for 9 months exactly, but fund raising will need to be done about 3 months before cash runs out, which means fund raising at the end of March 2013.
BlueGen units use ceramic fuel cells to turn natural gas into electricity - as well as heat for hot water - for homes, schools, offices and small commercial buildings. Each BlueGen unit can save up to four tonnes of carbon per year in low carbon homes in the UK when running of natural gas and around twice this amount when using directed biogas purchased over the mains gas grid. The peak electrical efficiency of BlueGen is up to 60 percent, far higher than any other small scale generating technology in the world. With the added benefit of heat, total efficiency is up to 85 percent. Ceramic Fuel Cells is delivering BlueGen units to customers across the UK through five specialised installation, sales and service partners: · Be Green Systems for London and the South East; · Ace Energy for the South Coast and South West; · Green Buy Energy for Yorkshire and the North Midlands; · Richard Irvin for Scotland; and · World Heat and Power for the North West and North Wales. Ceramic Fuel Cells continues to raise its profile in the UK capital markets. For more information please contact: Ceramic Fuel Cells Limited Paddy Thompson (UK) Tel. Email : +44 7968 356 439 : investor@cfcl.com.au Nomura Code Securities (AIM Nomad) Juliet Thompson Chris Golden Tel. : +44 (0) 207 776 1200 Australian media enquiries Richard Allen Oxygen Financial Public Relations Tel. Email : +61 (0) 3 9915 6341 : richard@oxygenpr.com.au
Jeremy Nesbitt, Managing Director, National Grid Affordable Warmth Solutions, commenting on The Madeley Centre installation, said: "we are excited to be involved in this ground breaking initiative. We are keen to promote innovative technologies that help improve energy efficiency and reduce energy bills for vulnerable homes and communities. We are committed to supporting a number of BlueGen installations that will be independently evaluated by UK's leading Fuel Poverty charity, National Energy Action." In parallel with the social housing exemplar installations, Ceramic Fuel Cells continues to work with Energy Services Company (ESCo) iPower to bring the benefits of BlueGen to the social housing sector under a fully funded ESCo arrangement. Pre-registration for this scheme is now open to all registered social landlords. Other installations in the last three months include the UK installation of a BlueGen for Ceramic Fuel Cells' chairman, Alasdair Locke. Exhibition Ceramic Fuel Cells exhibited at the Retro Expo conference at the NEC from 30 October to 1 November 2012, highlighting the benefits of BlueGen installations in the retrofit market. BlueGen's role in the Really Smart House project (www.reallysmarthouse.com) was presented by architects firm, The Facility.
Ceramic Fuel Cells Limited (AIM / ASX: CFU) a leading developer of generators which use fuel cell technology to convert natural gas into electricity and heat for homes and other buildings, is pleased to provide an update on its progress in the United Kingdom market. Increasing Government support Micro combined heat and power (microCHP) units accredited under the UK's Microgeneration Certification Scheme (MCS) and commissioned on or after 1st December 2012 will be eligible for an increased feed in tariff of 12.5p per kilowatt-hour (kWh) of electricity generated plus an additional 4.5p per kWh for electricity not used on site and exported to the grid. The increased tariff applies to the first 30,000 microCHP appliances installed. BlueGen is currently the only fuel cell based microCHP appliance accredited under the MCS and hence the only fuel cell eligible for the UK feed in tariff. Social housing In the UK Ceramic Fuel Cells has taken a highly targeted approach to key market sectors. One of these key market sectors is social housing where the benefits of BlueGen generation are particularly strong. Ceramic Fuel Cells has recently sold 5 BlueGens into exemplar installations in this market sector, which will be commissioned during December. Two of these installations have been supported by National Grid Affordable Warmth Solutions, including one at The Madeley Centre near Crewe.
So what actually is your beef ? Are you a share holder ? Do you just like trying to show people how clever you are ? What is the real purpose of your publications on this board ?
Two months since the fund raising and not a single sale registered. That is two months of cash burnt with very little to show from it. Also CFU has dropped Australia as a market so it's markets are reduced to pretty much UK and Germany. Two months from a desperate fund raising and they haven't sold anything. Cash at 30 Sept was £8.9m. Cash burn in the prior quarter was £2.9m. So only enough cash to last to 9 months from Sept 30 is now 7 months cash left. Thus it is another 3-4 months to the next fund raising. "Net operating cash outflow for the September quarter was AUD 4.5m (GBP 2.9m)" "Unrestricted cash on hand at 30 September was AUD 13.6m (GBP 8.7m)" £1.4m is locked up as security and cannot be used by CFU. "AUD 2.2 million (GBP 1.4 million) has been pledged as security and is unavailable for use by the Group."
http://www.rttnews.com/2003954/ceramic-fuel-cells-ceo-brendan-dow-steps-down-quick-facts.aspx?type=qf&utm_source=google&utm_campaign=sitemap 11/12/2012 9:55 AM ET Ceramic Fuel Cells Limited (CFU.L) announced that Brendan Dow is stepping down as Chief Executive Officer and the Board has appointed Bob Kennett to lead the team in the next stage of the Company's commercial development. Bob Kennett has spent the whole of his career in the energy industry. He was Managing Director of PowerGen Combined Heat and Power Ltd for 12 years during which time he successfully established and managed a profitable subsidiary business in the UK Combined Heat and Power market with assets of more than £600 million at 22 sites. Bob also served as Chairman and Director of Powergen Renewables Ltd. He has served as a Non-Executive Director of CFU since August 2006 and is a board member of the Combined Heat and Power Association and Chairman of the CHPA Micro Forum.
OK, dude.
crazy1, I see you have put down loads of facts to prove me wrong .. NOT!! My interpretation is spot on, always has been, including predicting the last two fund raisings, the lack of sales after hyping up every trial, the furnace issues not being fixed when they promised, plus loads of other things I interpreted correctly. When you actually have some data to prove me wrong, bring it on!! In the meantime your just spouting hot air.
Your interpretation of available data concerning CFU is way off the mark, but there you go.
It's make or break for CFU! Not only have they gone back on all the hype about Victoria being THE PLACE to sell loads of Bluegens, they have cut Japan and the far east as they can't compete out there, so their target markets are down to just Germany and maybe the UK. http://citysolar.com.au/solar-energy-information/ceramic-fuel-cells-packs-its-bags-and-moves-to-europe/ I get the feeling that 7 years payback and €18,350 net cost after subsidies is not a game changer even in Westphalia and CFU will struggle to reach sales of 500 in the next 6 months, by which time they will be back to the market for more cash. Stirling engine Baxi at €6500 (+VAT if applicable in Westphalia) minus the subsidies is down to maybe €3000, people will be more interested in paying that price and getting payback in less than 5 years (£600 a year saving as stated in the advert), than what they might hope to get by running a Bluegen 24/7/365 for 7 years after paying €15,350 extra for it now. A Baxi also does central heating, a Bluegen only heats hot water for shower or dish/clothes washing so a buyer still needs to have something else the heat their home/office/etc. http://www.bhl.co.uk/product/BAXI_ECOGEN_2410_MICRO_CHP_HEAT_AND_POWER_GAS_BOILER
Ceramic Fuel Cells, a developer of generators which use fuel cell technology to convert natural gas into electricity and heat, has said its welcomes the launch of a subsidy scheme for micro combined heat and power products (mCHP). Under the scheme, the North-Rhine Westphalia government will pay a capital subsidy to commercial customers and energy service companies, like Ceramic Fuel Cells' BlueGen and integrated mCHP products. The company believes its products are likely to be eligible for an initial subsidy of around 10,000 euros per unit.
http://www.asx.com.au/asx/statistics/announcements.do?by=asxCode&asxCode=CFU&timeframe=D&period=W 29/10/2012
http://www.finnewsnetwork.com.au/archives/finance_news_network22064.html ....Ceramic Fuel Cells Limited (ASX:CFU) has welcomed a subsidy scheme for micro combined heat and power products in the German state of North-Rhine. The new scheme will see the local government pay a capital subsidy to commercial customers who install heat and power products of less than 50 kilowatts. The dual listed developer of small generators recently revealed cost cutting measures and an organisational change to focus on Europe where it forecasts significant sales growth. Shares in Ceramic Fuel Cells are trading up 5.13 per cent at $0.08.
http://www.cospp.com/news/2012/10/29/ceramic-fuel-welcomes-german-state-s-subsidy-scheme.html Ceramic Fuel welcomes German state's subsidy scheme 29/10/2012 Ceramic Fuel Cells (ASX:CFU) has welcomed the launch of a subsidy scheme for micro combined heat and power products (mCHP) by the German State of North-Rhine Westphalia. Under the new scheme the North-Rhine Westphalia government will pay a capital subsidy to commercial customers and energy service companies which install highly efficient mCHP products of less than 50 kilowatts, like Ceramic Fuel Cells' BlueGen and integrated mCHP products. Different levels of subsidy are available for various categories of mCHP products and related projects, depending on their level of efficiency, innovation and carbon saving potential. The company believes that its BlueGen and integrated mCHP products will be classed as highly innovative cogeneration systems, and therefore eligible for a subsidy of 45 per cent of the extra cost of the product compared to a conventional reference product. The subsidy is increased by another 10 to 20 per cent for small and medium sized businesses. While the precise subsidy amount will be determined by the relevant government department, and may vary between customers, the company believes its products are likely to be eligible for an initial subsidy of approximately 10,000 Euros per unit. The subsidy program begins immediately and is due to run until the end of 2017. North-Rhine Westphalia is the most populous State in Germany, with a population of approximately 18 million people. Copyright 2012 RWE Australian Business News Pty Ltd. All Rights Reserved Wire News provided by
and the price doesn't move down a jot, don't believe these can be sells, normally someone sells 100,000 and the sp drops, weird
5.20P To Buy
Roll on 5p +
http://www.finnewsnetwork.com.au/archives/finance_news_network21937.html Shares in dual listed Ceramic Fuel Cells Limited (ASX:CFU) gained yesterday as the developer of small generators revealed cost cutting measures and an organisational change to focus on Europe. The company has employed a Commercial Director for its European management team and realigned the structure of its Melbourne headquarters to support its European markets. The changes, including outsourcing of cell production, are expected to generate annual cost savings of about $5 million and result in 56 job losses in the current financial year. Managing Director Brendan Dow says the company is making the changes to reduce overhead costs and to focus on markets where it can achieve immediate and significant sales growth. Shares in Ceramic Fuel Cells gained 5.8 per cent yesterday, closing at $0.073. Ceramic Fuel Cells reported a net loss of $30.2 million in the 2012 financial year.
http://www.bloomberg.com/news/2012-10-16/fuelcell-gets-u-s-funds-to-advance-carbon-capture-project-1-.html FuelCell Gets U.S. Funds to Advance Carbon-Capture Project By Justin Doom - Oct 16, 2012 11:11 PM GMT+0300 . .. FuelCell Energy Inc. (FCEL), the Danbury, Connecticut-based maker of fuel-cell power plants, qualified for $800,000 in U.S. government funding to develop systems that capture carbon-dioxide emissions at coal-fired generators. The funding is the second phase of a $3 million award from the U.S. Energy Department announced in October 2011, FuelCell said in a statement today. FuelCell is one of 16 companies that will share as much as $41.3 million in Energy Department funding over three years to develop carbon-capture technology. About 42 percent of the electricity generated in the U.S. last year came from burning coal, the largest source of carbon emissions that contribute to climate change, according to the Energy Department’s Energy Information Administration. “This award enables us to further advance and refine our research,” FuelCell Chief Executive Officer Arthur Bottone said in the statement. FuelCell fell 5.2 percent to 95 cents at the close in New York. The company’s direct fuel-cell stack separates and concentrates CO2 during power generation, according to the statement. The Energy Department is providing funding to companies developing post-combustion capture technologies, which use membranes, solvents or gas-absorbing sorbents to remove CO2 from smokestacks.
Ceramic Fuel Cells, a developer of generators which use fuel cell technology to convert natural gas into electricity and heat, said it had appointed a Commercial Director to its European management team as it seeks to increase sales in Germany. Andreas Ballhausen joins from German energy utility firm EWE. At the same time the firm said it was reducing sales resources in Australia, Japan and North America.
I like this company and have a friend whose invested 30k in the past year. My concern however is can CFU grow their sales, whilst managing production and most importantly manage their cash flow! This company needs a stronger Capital base to survive in my opinion?